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Archive - 2020-11-10
An Interview with Taimur Saleem Khan Jhagra, Minister for Health and Finance, Khyber Pakhtunkhwa
Pakistan

An Interview with Taimur Saleem Khan Jhagra, Minister for Health and Finance, Khyber Pakhtunkhwa

In this interview, Taimur Saleem Khan Jhagra talks about the progress of Khyber Pakhtunkhwa in terms of Governance, Health and productivity. He talks in depth about the BRT Peshawar, 18th Amendment, Covid19, the monumental Sehat Card Program and Khyber Pakhtunkhwa’s road towards universal health coverage, MTI Reforms and KPK Government’s steps to address the country’s productivity issues.
Updated 12 Nov, 2020 02:07pm
Euro zone budget aid may need to be stepped up: ECB's Knot
Money & Banking

Euro zone budget aid may need to be stepped up: ECB's Knot

  • Knot, normally a conservative voice on the ECB's Governing Council and a critic of past monetary stimulus packages, said the ECB should keep borrowing costs low.
  • Fiscal policy must be in the lead," said Knot, who also sits on the European Central Bank's rate-setting Governing Council.
Updated 10 Nov, 2020 08:55pm
Russian rouble eases after rally; oil pushes stocks higher
Forex

Russian rouble eases after rally; oil pushes stocks higher

  • The rouble shed 0.5% to 76.67 against the dollar after hitting 75.75 the day before, its strongest level since Sept. 22.
  • It was also down 0.5% versus the euro, at 90.61 , having hit 89.76 on Monday, a level previously seen on Sept. 25.
Published 10 Nov, 2020 08:34pm
US job openings rise slightly in September
USA

US job openings rise slightly in September

  • Job openings, a measure of labor demand, were up 84,000 to 6.4 million on the last day of September.
  • The job openings rate was unchanged at 4.3% in September. Layoffs dropped 200,000 to 1.3 million. The layoffs rate fell to 0.9% from 1.1% in August.
Updated 10 Nov, 2020 08:27pm
Ford to add jobs to boost output of electric F-150, add electric van
Industry

Ford to add jobs to boost output of electric F-150, add electric van

  • The company said it also will add a second vehicle at the Mexican factory that is already set to build the Mustang Mach-E electric sport utility vehicle.
  • Ford will invest $150 million to add production of electric vehicle motors and transaxles at a transmission factory in suburban Detroit.
Published 10 Nov, 2020 07:35pm
American Airlines announces stock offering of 38.5mn shares
Industry

American Airlines announces stock offering of 38.5mn shares

  • Sole bookrunner Bank of America has priced the offering at $13 per share, representing a discount of 1.5% to the airline's closing price on Monday.
  • American Airlines said it expects to use the net proceeds from the offering for general corporate purposes.
Published 10 Nov, 2020 07:30pm
As Trump challenges Biden victory, attorney general OKs fraud probes
World

As Trump challenges Biden victory, attorney general OKs fraud probes

  • Pennsylvania Republican state lawmakers plan to call for an audit of the results in the state that gave Biden enough electoral votes to win.
  • The dispute is slowing Biden's work in preparing for the work of governing, as a Trump appointee who heads the office charged with recognizing election results has not yet done so.
Published 10 Nov, 2020 07:28pm
Ivory Coast cocoa purchases hit again by post-election unrest
Commodities

Ivory Coast cocoa purchases hit again by post-election unrest

  • Bean arrivals at ports in Ivory Coast, the world's top cocoa producer, fell by half early last week in the days after the Oct. 31 presidential election.
  • Buying picked up later in the week but has taken a fresh hit since Monday, when young people in the west and southwest began barricading roads.
Published 10 Nov, 2020 07:21pm
Bulgarian economy may contract more than 4pc this year: IMF
Europe

Bulgarian economy may contract more than 4pc this year: IMF

  • In October, the IMF forecast the small and open economy to contract by 4% in 2020 and saw its unemployment rate at 5.6%.
  • On Tuesday, the Balkan country of 7 million people reported 3,816 new coronavirus cases, bringing the total to 78,976, including 1,771 deaths.
Published 10 Nov, 2020 07:18pm
S&P 500 set to dip after vaccine news rally
Stocks

S&P 500 set to dip after vaccine news rally

  • Market cools after huge Monday rally.
  • Pandemic tech winners retreat.
  • Financials, energy and travel stocks edge higher.
  • Futures: Dow up 0.7%, S&P down 0.1%, Nasdaq down 1.5%.
Published 10 Nov, 2020 07:16pm
Brazil's Bolsonaro claims victory as Sinovac COVID-19 trial halted
USA

Brazil's Bolsonaro claims victory as Sinovac COVID-19 trial halted

  • Brazil's health regulator, Anvisa, said late on Monday that the event occurred on Oct. 29 but did not specify if it took place in Brazil or in another country.
  • Anvisa's decision surprised trial organizers, who said there had been a death but it was unrelated to the vaccine.
Updated 10 Nov, 2020 07:08pm
Biden may face pressure to reshape Powell's Fed in first year
World

Biden may face pressure to reshape Powell's Fed in first year

  • Among the considerations the incoming Democratic president will have to weigh are likely calls from progressives for more extensive change at the Fed.
  • Opposition to Powell may also arise from those who want tougher financial regulation. Democratic US Senator Elizabeth Warren
Published 10 Nov, 2020 06:02pm
Putin says all Russian COVID-19 vaccines are effective
Europe

Putin says all Russian COVID-19 vaccines are effective

  • Russia is rolling out its Sputnik V vaccine for domestic use despite the fact that late-stage trials have not yet finished,
  • There are already two registered vaccines. And studies have already shown and confirmed that, firstly, these vaccines are safe.
Published 10 Nov, 2020 05:47pm
Sterling gains 1pc vs euro on Brexit, vaccine hopes
Forex

Sterling gains 1pc vs euro on Brexit, vaccine hopes

  • Sterling also got a boost from hopes that Britain could clinch a post-Brexit trade agreement with the European Union by the end of the year.
  • Sterling also extended gains versus the US dollar, trading last up 0.7% on the day at $1.3257.
Published 10 Nov, 2020 05:46pm
Polish rates could be stable until 2022
Money & Banking

Polish rates could be stable until 2022

  • Poland's central bank published its November inflation report on Tuesday.
  • The central bank now forecasts that gross domestic product (GDP) will fall by 3.5% in 2020, compared to the 5.4% drop forecast in July.
Published 10 Nov, 2020 05:35pm
Apple to unveil Macs with their own processors, widening its app ecosystem
Technology

Apple to unveil Macs with their own processors, widening its app ecosystem

  • Apple said in June that it would begin outfitting Macs with its own chips, which will build on its decade-long history of designing processors for its iPhones, iPads and Apple Watches.
  • The new chips, which will be unveiled in a webcast event on Tuesday, will make it far easier for the millions of apps currently available for iPhones to migrate to Macs.
Published 10 Nov, 2020 05:17pm
Copper slips from 29-month highs as dollar strengthens
Commodities

Copper slips from 29-month highs as dollar strengthens

  • European stock markets and oil prices rose for a second day, though weak inflation data in China.
  • The dollar, meanwhile, recouped some of Monday's losses, pressuring metals by making them more expensive for buyers with other currencies.
Published 10 Nov, 2020 05:12pm
WB urges Pakistan to expand investment in Solar & Wind Energy
Industry

WB urges Pakistan to expand investment in Solar & Wind Energy

  • WB study was of the view that Pakistan has tremendous potential to generate solar and wind power; utilizing just 0.071 percent of the country’s area for solar photovoltaic (solar PV) power generation would meet Pakistan’s current electricity demand.
Published 10 Nov, 2020 12:59pm
President Trump fires Secretary of Defense Mark Esper
USA

President Trump fires Secretary of Defense Mark Esper

  • President Donald Trump, in the aftermath of his defeat to Joe Biden, has "fired" Defense Secretary Mark Esper, further fuelling the controversy around his refusal to concede defeat in the election.
Published 10 Nov, 2020 09:30am
Trade policy framework
Exchange

Trade policy framework

A new trade policy is on the anvil, one which envisages Pakistan to fetch up to $46 billion over the next five ...
Published 10 Nov, 2020 08:09am
Winter is coming!
BR Research

Winter is coming!

It has already been a topsy turvy year, and the pre-existing conditions make it worse. For almost a decade now,...
Published 10 Nov, 2020 08:08am
Baluchistan Wheels Limited
Currency

Baluchistan Wheels Limited

Operating in the automobile parts and accessories industry, Baluchistan Wheels Limited (PSX: BWHL) was established ...
Published 10 Nov, 2020 07:25am
The Weather
Pakistan

The Weather

KARACHI: The weather report on Monday (November 9, 2020) and the forecast for Tuesday (November 10, 2020)....
Updated 10 Nov, 2020 03:22am
Nikkei index hits 29-year high
Stocks

Nikkei index hits 29-year high

TOKYO: Tokyo stocks surged more than two percent to end at a 29-year high on Monday after Joe Biden was elected the...
Updated 10 Nov, 2020 03:14am
Japan rubber futures fall
Commodities

Japan rubber futures fall

TOKYO: Japanese rubber futures fell more than 3% on Monday after a poll of major Japanese manufacturers and other...
Updated 10 Nov, 2020 03:14am
Turkish lira rises
Money & Banking

Turkish lira rises

ISTANBUL: Turkey's lira surged 2% against the US dollar on Monday, after Finance Minister Berat Albayrak said he was...
Published 10 Nov, 2020 02:54am
Iranian FM due today

Iranian FM due today

ISLAMABAD: Iranian Foreign Minister Javad Zarif will arrive on a two-day official visit to Pakistan on Tuesday...
Published 10 Nov, 2020 02:54am
Mir Shakil granted post-arrest bail

Mir Shakil granted post-arrest bail

ISLAMABAD: The Supreme Court on Monday granted post-arrest bail to Editor-in-Chief of the Jang/Geo Group, Mir...
Published 10 Nov, 2020 02:54am
Sugar prices further escalate

Sugar prices further escalate

ISLAMABAD: Despite arrival of imported sugar in the market, the commodity prices are continually going up as on...
Published 10 Nov, 2020 02:54am
Discos allowed to hike tariff

Discos allowed to hike tariff

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has allowed power Distribution Companies (Discos) to...
Published 10 Nov, 2020 02:54am
Country's debt challenge
Letters

Country's debt challenge

This is apropos a Business Recorder editorial "A Chinese favour" carried by the newspaper the other day. Its Leader...
Published 10 Nov, 2020 02:54am
JLI MEESEQ Fund Rates
Rates.JLI

JLI MEESEQ Fund Rates

KARACHI: JLI Meesaq Fund Rates on Monday (November 9, 2020). ======================== Offer Price 1,159.7887 Bid...
Published 10 Nov, 2020 02:54am
BOARD MEETINGS
Exchange

BOARD MEETINGS

KARACHI: Board Meetings of Companies listed on the Pakistan Stock Exchange....
Published 10 Nov, 2020 02:54am
THE RUPEE: PKR strengthens
Currency

THE RUPEE: PKR strengthens

KARACHI: On Monday, at the start of the new week, PKR continued to go up against USD in both interbank and open...
Published 10 Nov, 2020 02:54am
Shipping Intelligence
Rates.Ports

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (November 9, 2020)....
Published 10 Nov, 2020 02:54am
Karachi Yarn Market Rate
Yarn Prices

Karachi Yarn Market Rate

KARACHI: Karachi Yarn Market Rates on Thursday (November 5, 2020). ======================================= CONES...
Published 10 Nov, 2020 02:54am
Karachi Yarn Market Rate
Yarn Prices

Karachi Yarn Market Rate

KARACHI: Karachi Yarn Market Rates on Monday (November 9, 2020). ======================================= CONES...
Published 10 Nov, 2020 02:54am
Australian, NZ shares jump
Stocks

Australian, NZ shares jump

SYDNEY/WELLINGTON: Australia shares finished higher on Monday, after notching their best intraday session since ...
Published 10 Nov, 2020 02:54am
The people have spoken
Opinion

The people have spoken

The nail-biting finish to the incredibly close US presidential election is finally here. Democrat Joe Biden has won,...
Published 10 Nov, 2020 02:54am
Budgetary outcome in 1QFY21
Exchange

Budgetary outcome in 1QFY21

The Ministry of Finance (MoF) has released the results of the fiscal operations for the first quarter of 2020-21. ...
Published 10 Nov, 2020 02:54am
Currency notes: exchange rates
Forex

Currency notes: exchange rates

KARACHI: Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan...
Published 10 Nov, 2020 02:54am
JLI MANAGED TAKAFUL FUND
Rates.JLI

JLI MANAGED TAKAFUL FUND

KARACHI: JLI Managed Takaful Fund Rates on Monday (November 9, 2020). ======================== Offer Price...
Published 10 Nov, 2020 02:54am
EFU AGGRESSIVE FUND RATES
Rates.EFU

EFU AGGRESSIVE FUND RATES

KARACHI: EFU Aggressive Fund Rates on Monday (November 9, 2020). ======================== Offer Price 1,418.7849...
Published 10 Nov, 2020 02:54am
Lahore Paper Market Rates
Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Monday (November 9, 2020). ======================================= Offset...
Published 10 Nov, 2020 02:54am
Bullion Rates
Rates.Bullion

Bullion Rates

KARACHI: Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (November 9, 2020)....
Published 10 Nov, 2020 02:54am
Gold prices fall Rs700
Commodities

Gold prices fall Rs700

Karachi: Gold prices on Monday reduced further by Rs700 per tola on the local market. The precious metal per tola...
Published 10 Nov, 2020 02:54am
Cotton Spot Rates
Cotton & Textile

Cotton Spot Rates

KARACHI: Official KCA spot rates for local dealings in Pakistan rupees on Monday (November 9, 2020)....
Published 10 Nov, 2020 02:54am
CBOT corn futures slide
Commodities

CBOT corn futures slide

CHICAGO: Chicago Board of Trade corn futures slid on Friday after reaching one-week highs the day before, as traders...
Published 10 Nov, 2020 02:54am